Robust job growth and bumper mining profits propel a US$14.2 billion surplus, surpassing estimates by fivefold.
To mitigate inflationary pressures, the government plans to funnel 95% of revenue upgrades back into the budget’s bottom line.
Figures from the Treasury showed the surplus was around 0.9% of gross domestic product, and the government will return 95% of revenue upgrades to the budget bottom line in a bid to avoid adding to inflation. However, the budget is projected to return to deficit this year amid intensifying spending pressures on healthcare, energy and defence. Higher interest rates and a slower global economy are set to slow the domestic labour market.
“We know that it’s not an end in itself, but it’s a really important, much stronger foundation from which to face the uncertainties ahead, and the pressures on the budget are intensifying rather than easing.”
Italia Ultime Notizie, Italia Notizie
Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.
Strong winds fan bushfires as Australia battles spring heatwaveSYDNEY, Sept 20 — Strong winds and a rare, intense heatwave in early spring fanned dozens of bushfires across Australia’s southeast, prompting extreme fire danger warnings...
Leggi di più »
Eating out in Australia eats up a chunk of change for average JoeGEORGE TOWN: Fancy a roti canai and teh tarik for breakfast in Perth? That will be A$9 (RM27) for the roti canai and A$7 (RM21) for the tea.
Leggi di più »
Australia tribunal pushes Chevron, LNG unions to resolve wage fightSYDNEY, Sept 21 — Australia’s industrial arbitrator today proposed steps to Chevron and unions to resolve a long-running dispute over pay and conditions at two liquefied...
Leggi di più »
Chevron workers to end strike at Australian gas facilitiesThe workers are accepting a deal proposed by Australia’s industrial relations body.
Leggi di più »
Apple’s iPhone 15 goes on sale in holiday resurgence testSold-out pre-orders and long lines in Dubai, Australia, and China indicate strong initial demand.
Leggi di più »
Terengganu FC sedia lakar kejutan besarTerengganu FC yang bakal menerima kunjungan juara Australia, Central Coast Mariners dalam ‘mood’ terbaik selepas melakar enam kemenangan
Leggi di più »